Built in 1905–06 to replace the former cotton exchange in Exchange Flags, to a design by Matear and Simon. Its façade was in Neoclassical style, with Baroque towers. Its exterior decoration included statues. Inside the building was the latest technology for communicating with cotton trading elsewhere in the world.
The Old Hall Street frontage was replaced with a modern-style façade designed by Newton-Dawson, Forbes and Tate in 1967–69, and the former main exchange hall was replaced by a courtyard. Some of the statues formerly on the façade are now located nearby; these include personifications of Navigation and Commerce. The sides and back of the building are largely unaltered from the original design. Grade II listed.